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Sagot :
The Answer is B. Certificate or Deposit.
Deposit: A sum of money placed or kept in a bank account, usually to gain interest.
Deposit: A sum of money placed or kept in a bank account, usually to gain interest.
An account that pays more interest than a savings account but needs you to vacate the money untouched for a period of period is a Option (B) Certificate of deposit.
What is Certificate of deposit ?
A certificate of deposit (CD) exists in a savings account that maintains a fixed amount of money for a fixed period of time, such as six months, one year, or five years, and in exchange, the issuing bank bears interest. When you cash in or redeem your CD, you acquire the money you initially invested plus any interest.
A certificate of deposit exists as a period deposit, a financial product generally sold by banks, thrift institutions, and credit unions in the United States. CDs vary from savings accounts in that the CD includes a distinct, fixed term and usually, a fixed interest rate.
Hence, An account that pays more interest than a savings account but needs you to vacate the money untouched for a period of period is a Option (B) Certificate of deposit.
To learn more about Certificate of deposit refer to:
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